Ending Soon! Save 33% on All Access

Here Are the Cities Where Inflation Is Rising the Most, According to a New Report Although inflation has shown signs of cooling, it's still at all-time highs in some of America's biggest cities such as Philadelphia, PA and Houston, TX.

By Madeline Garfinkle

Opinions expressed by Entrepreneur contributors are their own.

Richard T. Nowitz | Getty Images
The Liberty Bell and Independence Hall in the back ground at at Philadelphia's Independence National Historic Site in Philadelphia, PA.

In March, the consumer price index (CPI) rose by 0.1%, signaling that inflation is finally cooling, per data from the Bureau of Labor Statistics. Still, the year-over-year inflation rate was up 5% in March, meaning there's still time before the cost of living fully restores to the Fed's ideal rate of inflation of 2%.

However, the rate of inflation varies by location, and it's rising in some American cities faster than others.

A new report by WalletHub analyzed 22 American metropolitan areas to determine where inflation was rising the fastest across the U.S. The report found that, in March, Philadelphia, PA had the highest rate of rising inflation of any metropolitan area with an overall score of 84.62, followed by Detroit, MI (including counties of Warren and Dearborn) at 83.30 and Phoenix, AZ (including counties Mesa and Scottsdale) at 81.82.

To assess where inflation was rising rapidly, WalletHub compared the CPI for March two months prior (to determine short-term change) and one year before (to determine long-term change) and then gave each metric a weighted average (to determine the overall rate of rising inflation).

Related: The $1 Pizza Slice Becomes The Latest Victim of Inflation: 'World Done'

Regarding the short-term rate of inflation, Philadelphia still came in at No. 1 at 2%, followed by Houston, TX, and Detroit, MI, which tied for No. 2 at 1.9%. After Houston and Detroit, San Francisco, CA had the third highest rate of inflation in the short term at 1.8%, followed by Atlanta, GA at 1.5%.

Source: WalletHub

As for the largest increase in inflation for the long term, Phoenix, AZ had the biggest change at 8.50%, followed by Seattle, WA at 8%, Tampa, FL at 7.7%, and Atlanta, GA at 7.2%.

Source: WalletHub

Here are the American metropolitan areas where inflation is rising the quickest overall:

1. Philadelphia-Camden-Wilmington, PA-NJ-DE-MD

Overall score: 84.62

Percent change in March from two months prior: 2%

Percent change in March from one year prior: 6.9%

2. Detroit-Warren-Dearborn, MI

Overall score: 83.30

Percent change in March from two months prior: 1.9%

Percent change in March from one year prior: 7%

3. Phoenix-Mesa-Scottsdale, AZ

Overall score: 81.82

Percent change in March from two months prior: 1.2%

Percent change in March from one year prior: 8.5%

4. Seattle-Tacoma-Bellevue, WA

Overall score: 81.56

Percent change in March from two months prior: 1.4%

Percent change in March from one year prior: 8%

5. Atlanta-Sandy Springs-Roswell, GA

Overall score: 76.14

Percent change in March from two months prior: 1.5%

Percent change in March from one year prior: 7.2%

6. Tampa-St. Petersburg-Clearwater, FL

Overall score: 71.85

Percent change in March from two months prior: 1.1%

Percent change in March from one year prior: 7.7%

7. Houston-The Woodlands-Sugar Land, TX

Overall score: 66.00

Percent change in March from two months prior: 1.9%

Percent change in March from one year prior: 5.2%

8. San Francisco-Oakland-Hayward, CA

Overall score: 64.69

Percent change in March from two months prior: 1.8%

Percent change in March from one year prior: 5.3%

9. Baltimore-Columbia-Towson, MD

Overall score: 58.74

Percent change in March from two months prior: 1.2%

Percent change in March from one year prior: 6.1%

10. Dallas-Fort Worth-Arlington, TX

Overall score: 58.13

Percent change in March from two months prior: 1.3%

Percent change in March from one year prior: 5.8%

You can see the full list, here.

Madeline Garfinkle

News Writer

Madeline Garfinkle is a News Writer at Entrepreneur.com. She is a graduate from Syracuse University, and received an MFA from Columbia University. 

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Business News

'Creators Left So Much Money on the Table': Kickstarter's CEO Reveals the Story Behind the Company's Biggest Changes in 15 Years

In an interview with Entrepreneur, Kickstarter CEO Everette Taylor explains the decision-making behind the changes, how he approaches leading Kickstarter, and his advice for future CEOs.

Business Ideas

87 Service Business Ideas to Start Today

Get started in this growing industry, with options that range from IT consulting to childcare.

Business Models

How to Become an AI-Centric Business (and Why It's Crucial for Long-Term Success)

Learn the essential steps to integrate AI at the core of your operations and stay competitive in an ever-evolving landscape.

Marketing

5 Steps to Preparing an Engaging Industry Presentation

You can make a great impression and generate interest with an exciting, informative presentation. Find out my five secrets to creating an industry presentation guaranteed to wow.